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by a scandal obsessed washington, which said the following -- the budget deficit will shrink this year to $642 billion, the smallest shortfall since 2008. deficits in cbo's baseline projections continue to shrink falling to 2.1% of gdp by 2015. in english, the deficit is shrinking at a near record breaking rate. now, you would think once it came to light that the deficit is shrinking at such a rapid rate that we hit the vaunted goals even set out by our wise masters, simpson and bowles, that people in washington who have endlessly obsessed over the deficit since the take party insurrection would take notice. the party that have said things like in the past three years. >> the president and his leaders in the senate are refusing to address this debt crisis. >> the important thing is that we have action and reduce these deficits. >> what i know is spending is out of control. >> tremendous deficits. >> debts out of control. >> does not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to ta
] >>> shrinking deficit projections are causing the street to rethink the program. steve liesman joins us on why it is more leakly. interesting after tepper's comments. >> right in line, the budget deficit increasingly seen as a catalyst for the fed to reduce its purchases of bonds to drive down interest rates. david tepper on squawk box yesterday flagging the problem faced by the fed. declining deficit means the governor will be selling less paper. the less paper the governor sel sells. right on cue, revising downward the fiscal yore 2013 by more than $200 billion from the earlier forecast to $642 billion. that compares with the deficit in fy 2012 with 1.2 million. the fed plans to buy more than $1 million a month in mortgages and that plan remains unchanged at least for now. credit suisse, the new deficit projections raise the sustainability of the purchase. we still look for a tapering with the risk and the small cut say $10 billion come sooner. ubs says the fed could find itself paying more than 100%. in order to maintain a stable accommodation of the qe, the fed would need to reduce their r
they were focused on was imposing austerity, right? bringing the budget deficit down, that's the thing they keep talking about. >> yeah. >> and it strikes me they have been remarkably successful in doing that. when you look at the debt ceiling debacle that led to the budget control act which has led to the sequester that actually -- >> oh, thank you for this question. it's so far off the course. first of all, the actions taken by president obama and the house democratic congress, house and senate when he became president was the american recovery and reinvestment act, many of the initiatives that he passed are what are coming to bear now including the affordable care act. affordable care act is bringing the cost of health care in our country down in both the public and private sector and that is what is largely responsible for the deficit coming down. we all care about frugality. we don't want to spend any money we don't have to. but we do want to invest in the education of our children, the safety of our neighborhoods and the rest and even if you don't, you have to remember that teach
." >> michigan department of education has just approved a deficit elimination plan for the buena vista school district. >> the district is hopeful that everyone will be back in class as early as this week. >> you heard that right. the buena vista school district will reopen, maybe as soon as friday, and students will finish out the school year, which runs until june 13th. that's because michigan education superintendent mike flanagan finally approved the district's third deficit elimination plan last night, which cleared the way to release state funding. as we first reported last week, then again on monday, buena vista students have not been in school since friday, may 3rd, because the district is out of money and republican rick snyder refused to release $500,000, or .1% of the state's rainy day fund so buena vista schools could reopened. that prompted the district to shut the doors on all three schools send a more than 400 kids home and lay off all 27 of its teachers. when we first covered this story, there was very little movement to resolve the problem to get the kids back in school, then
bron added 23. the heat erasing 11-point second-half deficit to knock out the chicago bulls in game five. the heat again in the eastern conference finals. they await the winner of the pacers and knicks. the pacers could close that thing up at the garden tonight. >> so it could be the pacers versus memphis? >> potentially, yes. >> that's what you're hoping for. >>> turning to college basketball, rutgers university has announced julie herman as its new athletic director. herman replaces the former a.d. who resigned after a video came out of the school's former men's basketball coach mike rice. >> ow. >> caught on camera hurling basketballs at players and using in a couple cases gay slurs during practice. hermann would be rutgers' first female a.d. she comes from louisville where she served as their athletic director's top deputy. she's got more than 30 years in college athletics but no prior experience as the head of a school's athletic program. >> mike, are there a lot of top program -- >> five. she becomes the fifth in d-1 schools. >> good move. move>> g >>> up next, author, columnist, k
like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly we're worried about intimidation of the press with respect to the doj scandal. that doesn't mean we're only going to do that. >> his point is they can walk and chew gum at the same time, that members of congress have this oversight responsibility, but you heard him say, very pointedly, we're not getting straight answers on benghazi, we're not getting straight answers on the irs. there is a lot of feeling by republicans and even some democrats in congress that the testimony today by the acting irs commissioner did him more harm than good. even if he's on his way out the door, there are questions about whether or not he's distant from the obama administration in this. >> don't forget the ap
Search Results 0 to 5 of about 6